Federal government posts $43 billion deficit between April ’24 and March
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OTTAWA – The federal government says it ran a budgetary deficit of $43.2 billion between April 2024 and this past March.
The deficit compared with $50.9 billion for the same stretch in the 2023-2024 fiscal year.
According to the Finance Department’s monthly fiscal monitor, revenue for the 10-month period totalled $494.8 billion, up from $444.8 billion a year earlier.
Program expenses excluding net actuarial losses amounted to $480.3 billion, up from $440.6 billion, boosted by increases across all major categories.
Public debt charges totalled $53.7 billion, up from $47.5 billion.
Net actuarial losses were $4.02 billion, down from $7.56 billion a year earlier.
This report by The Canadian Press was first published May 30, 2025.